National Payments Corporation of India (NPCI) on Friday said it has given its consent to Facebook-owned WhatsApp to roll out Unified Payments Interface (UPI)-enabled payments for a beta launch, with a limited user base of one million and a low per-transaction limit. NPCI did not specify what the per-transaction limit permissible for WhatsApp is.

The government today withdrew its petition before the National Company Law Tribunal that was filed to take over the management of crisis-hit realty firm Unitech Ltd over alleged mismanagement and siphoning of funds.

The matter was listed today before a two-member NCLT bench, headed by President MM Kumar.

Punjab National Bank (PNB) has told the Central Bureau of Investigation (CBI) that the Rs 114 billion scam could have been averted had officials of overseas branches of domestic banks raised the red flag.

Significantly, the Delhi-based public sector bank has not found any role of chartered accountants, statutory auditors, and empanelled valuers in the alleged scam in its in-house investigation, according to the bank’s submission to the CBI.

With Coal India prioritising availability of thermal coal to the power plants by streamlining its road and rail supply networks, its plans of acquiring a 20-25 per cent stake in an Australian firm, which could have ensured steady procurement of coking coal, has been put on the back burner.

Apart from stepping up production, another top priority for the company at present is coordinating with railways to make 288 rakes available each day for supply of the fuel to power plants.

Debt-ridden telecom operator RCom said on Friday its shareholders had approved an asset monetisation plan which would be used to repay dues.

“The shareholders of the company approved the monetisation of its assets. The company announced the results of postal ballot on February 15, 2018, whereby the shareholders approved the resolution to monetise spectrum, towers, fibre, telecom infrastructure and other assets with overwhelming majority of 99.91 per cent,” RCom said in a statement.

The petrol and diesel prices have been cut almost daily in last ten days on the back of falling crude oil price after it topped $71 a barrel last month. The diesel price since February 7 has fallen by Rs 1.2, while petrol price has gone down bt 89 paise.

The diesel prices on February 16 were: Delhi Rs 63.02 per litre; Kolkata Rs 65.68; Mumbai Rs 67.11; and Chennai Rs 66.45. The petrol prices were: Delhi Rs 72.52 per litre; Kolkata Rs 75.22; Mumbai Rs 80.39; Chennai Rs 75.21. Despite the downward trend, petrol price in Mumbai continues to remain above Rs 80 a litre.

Debt-ridden telecom operator RCom today said its shareholders have approved an asset monetisation plan which will be used to repay dues. “The shareholders of the company approved the monetisation of its assets. The company announced the results of postal ballot on February 15, 2018, whereby the shareholders approved the resolution to monetise spectrum, towers, fibre, telecom infrastructure and other assets with overwhelming majority of 99.91 per cent,” RCom said in a statement.

Facebook Inc., Alphabet Inc.’s Google and other online platforms would face stricter rules for political advertising according to a proposed framework that will be considered by the Federal Election Commission. The proposal, written by Ellen Weintraub, a Democrat and vice chair of the commission, would require online advertisements to carry the same disclaimers from their sponsors as do radio, television and print ads.

India’s biggest stock exchange is keen to buy a 25 percent stake in Dhaka Stock Exchange, rivaling an offer from a Chinese bourse. “We are well positioned to help grow the Bangladesh market and the exchange, given our experience and track record,” Vikram Limaye, chief executive officer of the National Stock Exchange, said in a phone interview on Thursday. The Shenzhen Stock Exchange has offered 22 taka per share to buy 25 percent of the Dhaka Stock Exchange, Rakibur Rahman, a director at the DSE, said by phone last week.

Country's largest lender SBI on Friday said it has an exposure of $212 million (about Rs 1,360 crore) in respect to letter of undertaking issued by Punjab National Bank to Nirav Modi, but does not have any direct exposure to the absconding jewellery designer.

"We don't have any direct exposure on Nirav Modi but we do have some exposure on Punjab National Bank," State Bank of India Chairman Rajnish Kumar told reporters on Friday.

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